US fintechs fall after China imposes additional tariffs

Pagaya Technologies

04/04/2025 15:25

Updates

** Shares of U.S. fintech companies fall after China announced an additional 34% tariff on all U.S. goods from April 10

** U.S. President Donald Trump said on Wednesday he would impose a 10% baseline tariff on all imports into the U.S. and higher duties on some of the country's biggest trading partners

** Affirm AFRM.O falls 11.2%, Pagaya Technologies PGY.O and LendingClub LC.N down 9.1% each, and Upstart Holdings UPST.O down 8.8%

** PayPal PYPL.O drops 4% and Block XYZ.N slips 7.4%

** Analysts have said potential inflationary pressures from tariffs could weigh on consumer spending; market turmoil amid economic uncertainty could further dampen sentiment

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com))